The USA Today reports that the average expenditure onValentine's Day is $100.89. Do male and female consumers differ inthe amounts they spend? The average expenditure in a sample surveyof 40 male consumers was $135.67, and the average expenditure in asample survey of 37 female consumers was $68.64. Based on pastsurveys, the standard deviation for male consumers is assumed to be$38, and the standard deviation for female consumers is assumed tobe $19.
- What is the point estimate of the difference between thepopulation mean expenditure for males and the population meanexpenditure for females (to 2 decimals)?
- At 99% confidence, what is the margin of error (to 2decimals)?
- Develop a 99% confidence interval for the difference betweenthe two population means (to 2 decimals). Usez-table.
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